Agnico Eagle Mines (NYSE:AEM) Stock Price Expected to Rise, Scotiabank Analyst Says

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its price objective raised by stock analysts at Scotiabank from $103.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price objective would suggest a potential upside of 18.79% from the company’s previous close.

Separately, Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

Agnico Eagle Mines Stock Up 4.0 %

NYSE:AEM traded up $3.36 during mid-day trading on Tuesday, reaching $88.39. The company’s stock had a trading volume of 1,528,383 shares, compared to its average volume of 1,436,857. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a 1 year low of $44.37 and a 1 year high of $89.00. The stock has a fifty day moving average of $81.84 and a 200-day moving average of $80.53. The firm has a market capitalization of $44.40 billion, a PE ratio of 44.23, a price-to-earnings-growth ratio of 0.57 and a beta of 1.08.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Wealth Management Group Inc. boosted its position in shares of Agnico Eagle Mines by 0.5% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock worth $1,909,000 after purchasing an additional 125 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 2.1% in the fourth quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock worth $569,000 after acquiring an additional 141 shares in the last quarter. Sapient Capital LLC grew its stake in shares of Agnico Eagle Mines by 1.3% during the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after acquiring an additional 145 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Agnico Eagle Mines by 34.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock valued at $51,000 after acquiring an additional 165 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd raised its position in shares of Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after purchasing an additional 190 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.